SelLab of Nankai University, founded in November 2003 and named after Nobel laureate in Economics Reinhard Selten, is the first experimental research facility of its kind in Mainland China.
In pursuing knowledge innovation and academic excellence, SelLab has gathered a large number of renowned scholars from both within China and abroad. These include Reinhard Selten, James Mirrlees (the 1996 Nobel laureate in Economics), Shyam Sunder (Management school of Yale University）and Janes L. Frank (Chair of accounting, economics, finance). In the opening ceremony of the lab held on 17 Nov. 2003, Professor Reinhard Selten said that the lab is a united team with great ability, and the work they do will be initiative.
Among other Nobel laureates in Economics who also greatly influence the lab are experimental economist Vernon Smith and behavioral economist Daniel Kahneman, whose achievement shows that experimental research is gaining a strong foothold in the mainstream economics. Nowadays, it is widely believed in the world’s academic field that experimental economics is a great breakthrough in terms of economics research methods. Some of them even believe that experimental economics is paving the way towards a revolution in economics. Obviously there is still a long way before the revolution, which needs the collective efforts of a large group of economists to push it forward. SelLab, with its interest in experimental research of economic management and a focus on economic management in corporate governance in China, is hoping to lead the way of this collective efforts.
Since 2004, the Ministry of Education of China has been encouraging universities to build up social science laboratories. Being the first social science laboratory of its kind and named after a Nobel laureate in Economics, SelLab has attracted widespread attentions. Some experts believed that the establishment of SelLab marked the beginning of a process to integrate academic resources and accelerate the development of Chinese economic and management research.